Bitmine Expands ETH Treasury to 4.9% of Supply with 53.5K Purchase
Bitmine has acquired an additional 53,500 Ether, pushing its total holdings to roughly 4.9% of the circulating ETH supply.
Bitmine has expanded its Ether reserves by purchasing 53,500 ETH, bringing its total holdings to approximately 4.9% of the circulating supply. The corporate buyer has maintained an aggressive dollar-cost averaging strategy, buying Ether weekly for 65 consecutive weeks despite holding substantial unrealized paper losses.
The persistent accumulation highlights institutional conviction in Ethereum's long-term value proposition and staking yield mechanics. Bitmine's steady absorption of spot ETH effectively removes substantial liquidity from public order books.
Concentrated corporate ownership can reduce exchange-traded floating supply, potentially amplifying upward price movements if market demand rebounds while also concentrating staking power within a single corporate entity.
Key takeaways
- Bitmine bought 53,500 ETH, extending its accumulation streak to 65 consecutive weeks.
- The company now controls approximately 4.9% of total circulating Ether supply.
- Bitmine maintains its DCA strategy despite facing billions in unrealized losses.